LIVERMORE, Calif. (AP) — LIVERMORE, Calif. (AP) — FormFactor Inc. (FORM) on Wednesday reported first-quarter profit of $20.4 million.
On a per-share basis, the Livermore, California-based company said it had net income of 26 cents. Earnings, adjusted for restructuring costs and stock option expense, were 56 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 45 cents per share.
The integrated circuits diagnostic company posted revenue of $226.1 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $225.6 million.
For the current quarter ending in June, FormFactor expects its per-share earnings to range from 57 cents to 65 cents.
The company said it expects revenue in the range of $235 million to $245 million for the fiscal second quarter.
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